The demand for cutting pipe & perforating pipe drilling tools is growing rapidly in the global market owing to various factors, including the increasing drilling activities and the development of unconventional hydrocarbon resources.
The global cutting pipe & perforating pipe drilling tools market is projected to grow at 5.04% CAGR during the forecast period, 2019–2025. In 2018, the global cutting pipe & perforating pipe drilling tools market was dominated by North America with a 32.65% share, followed by Asia-Pacific and the Middle East & Africa with shares of 26.38% and 18.17%, respectively.
The global cutting pipe & perforating pipe drilling tools market has been segmented based on product, application, and region. On the basis of product, the global cutting pipe & perforating pipe drilling tools market has been classified as abrasives, explosive jet cutter, electro-mechanical perforators, fluidic cutters, explosive perforating charge, electro-mechanical cutters, fluidic perforators, explosive severing tool, and others. The fluidic cutters segment is expected to grow at a fastest rate during the forecast period. In 2018, the abrasives segment held a 21.75% share of the global cutting pipe & perforating pipe drilling tools market.
On the basis of application, the global cutting pipe & perforating pipe drilling tools market has been segmented as onshore and offshore. The offshore segment is expected to grow at a faster rate during the forecast period. In 2018, the onshore segment held a 65.80% share of the global cutting pipe & perforating pipe drilling tools market.
On the basis of region, the global cutting pipe & perforating pipe drilling tools market has been segmented as North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. In 2018, North America held a 32.65% share of the global cutting pipe & perforating pipe drilling tools market.
